United States Payment Gateway Market Introduction and Overview
According to SPER Market Research, the United States Payment Gateway Market is estimated to reach USD 8862.97 million by 2033 with a CAGR of 4.85%.
The report includes an in-depth analysis of the United States Payment Gateway Market, including market size and trends, product mix, applications, and supplier analysis. The payment gateway is critical in online transactions since it protects both consumers and sellers' information. Encrypting sensitive information, such as credit card information, ensures that purchases are authorised and completed securely. Merchants can simply integrate payment gateway into their online stores utilising a variety of approaches. These gateway accept a variety of payment methods, including credit/debit cards, digital wallets, and bank transfers, allowing for global transactions in multiple currencies.
- April 2024: Dwolla introduces new Open Banking Services focused at improving Account-to-Account (A2A) payments. Dwolla gives businesses a simple implementation process by pre-integrating with key open banking service providers, reducing complexity and speeding up the rollout of A2A payment solutions via Dwolla's single API.
- April 2024: Stripe, a financial infrastructure platform for businesses, announced a partnership with URBN to handle online and in-store retail transactions for Urban Outfitters, Anthropologie Group, Free People, and FP Movement. In addition, by using Stripe as its fundamental payment infrastructure, URBN hopes to increase customer checkout consistency, authorisation rates, and pave the road for future developments.
Market Opportunities and Challenges
Opportunities
- Online transactions are made easier with the adoption of QR codes: Modern retail establishments use unique QR codes to streamline customers' online payment experiences thanks to technological advancements. Scanning these codes is possible with smartphones and other IoT devices. Consumers can swiftly and conveniently make payments using them.
- Customers can use the payment provider of their choice to pay for their purchases because the same QR codes can be used with several payment applications. Online payment gateway use has increased as a result of this improvement in payment convenience.
- Online payment gateway like Gpay, Paypal Holdings, and AmazonPay have grown in popularity due to their cashback, incentives, and coupon schemes. These motivate customers to use these platforms.
- Users also regard payment gateway to be a secure means for online purchases. Furthermore, internet payment gateway are adding advanced security features such as fingerprint and face scanners to improve safety and prevent fraudulent transactions.
Challenges
- Fragmentation and Regulatory Compliance: The Payment Gateway Market faces a significant difficulty in navigating the intricate web of regulatory compliance. A fragmented regulatory environment results from the many laws that different nations and areas have regulating data protection, electronic payments, and consumer rights. This discrepancy might raise compliance expenses and complicate operations for payment gateway companies. Payment gateway are required by strict legislation in many jurisdictions to put strong security mechanisms in place, conduct frequent audits, and have open reporting policies. For small and medium-sized businesses, who might not have the means or know-how to handle compliance concerns well, this regulatory burden can be especially difficult.
Market Competitive Landscape
Leading payment gateway providers are stabilising the market with creative fixes, calculated alliances, and client-focused strategies. These businesses are essential in forming the payment ecosystem and satisfying the changing demands of customers and organisations. Key market players are PayPal, Stripe, Dwolla, Beacon Payments LLC, Adyen NV, Amazon.com Inc, PayPal Holdings Inc, Francisco Partners, JPMorgan Chase & Co.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Application, By Mode of Interaction |
| Regions covered | Northeast, South, Midwest, West |
| Companies Covered | PayPal, Stripe, Dwolla, Beacon Payments LLC, Adyen NV, Amazon.com Inc, Francisco Partners, JPMorgan Chase & Co. |
COVID-19 Impact on United States Payment Gateway Market
The COVID-19 pandemic has boosted the payment gateway sector by increasing online transactions. Despite lockdowns, the market has expanded because to the rise of eCommerce. UPI's growing importance in the post-pandemic context is expected to drive growth in the digital industry, despite hurdles such as cyber-attacks and limited internet connection in remote areas. The introduction of eCommerce platforms and increased internet availability are expected to help the online payment gateway market regain momentum. This is being driven by high-speed internet and the desire for mobile-based payments, such as takeaway and movie tickets, with both developed and developing countries adopting debit or credit cards.
Key Target Audience
- E-commerce Businesses
- Small and Medium Enterprises (SMEs)
- Large Enterprises
- Financial Institutions and Banks
- Payment Service Providers (PSPs)
- Mobile App Developers and Digital Wallet Providers
- Subscription-Based Businesses
- Nonprofit Organizations
Our in-depth analysis of the United States Payment Gateway Market includes the following segments:
| By Application: | Large EnterprisesMicro and Small EnterprisesMid-Size Enterprises |
| By Mode of Interaction: | Hosted Payment GatewaysPro/Self-Hosted Payment GatewaysAPI/Non-Hosted Payment GatewaysLocal Bank IntegratesDirect Payment GatewaysPlatform-Based Payment Gateways |
| By Region: | NortheastSouthMidwestWest |
Key Topics Covered in the Report
- United States Payment Gateway Market Size (FY’2024-FY’2033)
- Overview of United States Payment Gateway Market
- Segmentation of United States Payment Gateway Market by Application (Large Enterprises, Micro and Small Enterprises, Mid-Size Enterprises)
- Segmentation of United States Payment Gateway Market by Mode of Interaction (Hosted Payment Gateway, Pro/Self-Hosted Payment Gateway, API/Non-Hosted Payment Gateway, Local Bank Integrates, Direct Payment Gateway, Platform-Based Payment Gateway)
- Statistical Snap of United States Payment Gateway Market
- Expansion Analysis of United States Payment Gateway Market
- Problems and Obstacles in United States Payment Gateway Market
- Competitive Landscape in the United States Payment Gateway Market
- Impact of COVID-19 and Demonetization on United States Payment Gateway Market
- Details on Current Investment in United States Payment Gateway Market
- Competitive Analysis of United States Payment Gateway Market
- Prominent Players in the United States Payment Gateway Market
- SWOT Analysis of United States Payment Gateway Market
- United States Payment Gateway Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the United States Payment Gateway Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Payment Gateway Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Payment Gateway Market
7. United States Payment Gateway Market, By Application (USD Million) 2020-2033
7.1. United States Payment Gateway Market Size, Share and Forecast, By Application, 2020-2026
7.2. United States Payment Gateway Market Size, Share and Forecast, By Application, 2027-2033
7.3. Large Enterprises
7.4. Micro and Small Enterprises
7.5. Mid-Size Enterprises
8. United States Payment Gateway Market, By Mode of Interaction (USD Million) 2020-2033
8.1. United States Payment Gateway Market Size, Share and Forecast, By Mode of Interaction, 2020-2026
8.2. United States Payment Gateway Market Size, Share and Forecast, By Mode of Interaction, 2027-2033
8.3. Hosted Payment Gateway
8.4. Pro/Self-Hosted Payment Gateway
8.5. API/Non-Hosted Payment Gateway
8.6. Local Bank Integrates
8.7. Direct Payment Gateway
8.8. Platform-Based Payment Gateway
9. United States Payment Gateway Market Forecast, 2020-2033 (USD Million)
9.1. United States Payment Gateway Market Size and Market Share
10. United States Payment Gateway Market, By Region, 2020-2033 (USD Million)
10.1. United States Payment Gateway Market Size and Market Share By Region (2020-2026)
10.2. United States Payment Gateway Market Size and Market Share By Region (2027-2033)
10.3. Northeast
10.4. South
10.5. Midwest
10.6. West
11. Company Profile
11.1. PayPal
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Stripe
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Dwolla
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Beacon Payments LLC
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Adyen NV
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Amazon.com Inc
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Francisco Partners
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. JPMorgan Chase & Co
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
